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Qualification: M. Definition of E-commerce? The use of electronic transmission mediums to engage in the exchange, including buying and selling, of products and services requiring transportation, either physically or digitally, from location to location. Electronic commerce also includes buying and selling over the WWW and the internet, electronic fund transfer, smart cards, digital cash and all other ways of doing business over digital networks.
E commerce notes pdf for mcafee
Electronic commerce can be defined from the following perspectives: Communication: E-commerce is the delivery of goods, services, information or payments over computer networks or by any other electronic means. Commercial: E-commerce provides the capability of buying and selling products, services and information on the internet and via other online services.
Business process: E-commerce is doing business electronically by completing business processes over electronic networks. Service: E-commerce is a tool that addresses the desire of governments, firms, consumers, and management to cut service costs while improving the quality of customer service and increasing the speed of service delivery.
Learning: E-commerce in an enabler of online training and education in schools, universities and other organizations. Collaborative: E-commerce is the framework of inter and intra-organizational collaboration Community: E-commerce provides a gathering place for community members to learn transact and collaborate.
18 replies on “The Best Commerce O Level Notes”
E-commerce means distributing, buying, selling and servicing of product and services online i. Advantages of E-commerce: a. Its transaction cost is lower in terms of customer service. It's the better way to interact with customer. Its faster communication medium than traditional business. Its faster, easier and efficient way for retailers, distributors and wholesalers. It has a great impact on business which results in profitability, improved customer service, time saving, improvement in quality etc.
Students can get any school, college or university information by surfing on the internet.
The Best Commerce O Level Notes
It provides readability and security. Providing complete understanding of the products or services offered, which not only includes complete product information but also sound advises and selectors. Providing service and performance.
It includes information retrieval services, email facility 1. We can conduct business online by any organization.
It includes electronic payment system facility. Multimedia which is the combination of text, sound, graphics, video and animation, is a tool to enhance the level of communication. Disadvantages of EC: 1 2 3 4 5 6 There is a lack of system security, reliability standard and some communication protocols.
There is insufficient telecommunication bandwidth. The software development tools are still evolving and changing rapidly It is difficult to integrate the internet and EC software with some existing application and databases.
Vendors may need special web services and other infrastructures, in addition to the network services. Some ec software might not fit some hardware, or maybe incompatible with some operating systems or other components These are the technical limitations of EC Non-technical limitations are: 1 2 3 4 5 6 7 8 3.
Cost and justification. Security and privacy. Lack of trust and user resistance. Other limiting factors. Many legal issues are as yet unresolved.
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E-commerce as a discipline, is still evolving and changing rapidly. There are not enough support services. E-commerce could result in a break down of human relationships.
Explain the Potential Benefits of E-commerce.
Explain the limitations? In order for businesses to invest resources to engage in electronic commerce, the benefits must exceed the costs.
The benefits businesses potentially gain from engaging in E-commerce Internet and web-based electronic commerce is more affordable than traditional EDI. Internet and web-based electronic commerce allows more business partners to be reached than with traditional EDI.
Internet and web-based electronic commerce can reach more geographically dispersed customer base. Procurement processing costs can be lowered. Cost of purchases can be lowered. Reductions in inventories Lower cycle times Better customer service and Lower sales and marketing costs The first three benefits are relative benefits of internet and web-based electronic commerce over traditional EDI methods.
By O & A Level Notes
Because of the low cost of connecting to the internet, medium and small businesses can now afford the connection cost. The internet offers a greater choice of global partners with which to conduct e-commerce. The cost of items purchased can also be lowered due to the ability to seek out and negotiate with a greater number of suppliers. Procurement cost can be lowered for all companies, regardless of size, due to the increased ability to transact electronically with one another. Internet e-commerce offers additional benefits and potential for cost reductions over traditional EDI.
Data transmission costs can be lowered. A reduction in inventory is because of the associated reductions in storage, handling, insurance and administrative costs.
माखनलाल यूनिवर्सिटी DCA 2nd Sem Internet & E-Commerce
Internet e-commerce can help firms to order the inventories by electronically linking suppliers and purchases together and allowing them to share updated production forecasts and projected inventory levels in order to allow both panics to collaboratively fine tune their production and delivery schedules.
The production life cycle time is the time it takes a business to build a product beginning with the design phase and ending with the completed product. Internet e-commerce is enabling the reduction of the cycle time by allowing engineers and production teams to electronically share design specifications for initial approval and refinement processes.
Customer service can be enhanced using internet e-commerce by helping the customer to access information before, during and after the sale. Before the sale is made, customers can electronically retrieve product specifications, quantity and pricing information.
During the product fulfillment cycle, customers can electronically track the status of the order. Lower sales and marketing costs by the shift in communication mediums allows the firm to reduce their overhead costs or better utilize their human resources to engage in building customer relations rather than performing tedious sales processing tasks.
Explain the "Impact of E-commerce on Business models"? Overall business and e-commerce goal congruence: E-commerce strategies need to be formulated so that they help business achieve its overall business goals.
Introduction of E-Commere
Figure illustrates the relationship between a firm's overall corporate mission and goals and its web-based electronic commerce plan. Environmental changes may cause a business to rethink or adjust its mission and goals, such as the entrance of "new" competitors into the marketplace.
These new competitors may arise from previously unknown businesses, unknown perhaps because they are located in foreign countries. These new competitors may launch a web based commerce site and have a newly found ability to cost-effectively draw customers away from the business.
Once the corporate mission and goals are set, then the information systems and technology group's mission can be set to help accomplish that mission.
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Ultimately, a web based electronic commerce plan can be set. Unfortunately, various research findings indicate that disconnect exists between a firm's overall business goals and its web based electronic commerce initiatives.
The firms engaging in electronic commerce may share information with their customers and suppliers at many stages of the value chain. Fig 2 depicts a new view of the value chain with the customer set as the center of focus to a firm. The firm's information system is the glue that links all phases of its processes together.
A customer may link to the firm's inventory data such as price, quantity and availability, prior to entering into a sales contract. The customer may be able to electronically receive design and product specifications prior to entering into a sales contract. The actual sales may be placed electronically and a promised or expected shipping date given by the supplier's information system to the customer. The customers can also check the shipping status of orders placed with a supplier that have been completed and are in the shipping process.
The customer's use of the supplier's information system to help provide better customer service after the sale is complete is another positive use. For example, a customer may wish to return a defective item to its supplier. The customer may be able to access the firm's information system and request a return slip, which the customer can then print-out and use to send the item back to the supplier at the cost of supplier. The supplier benefits by knowing in advance those defective goods were sent to a customer and when to expect to receive them back.
Principles of Supply Chain Management
These are some of the many ways in which customers and suppliers may advantageously share the information stored in the supplier's information system. The internet is enabling companies to fully integrate their supply chains, and this integration has a dramatic influence on the structure of participating companies to fully integrate their supply chains.
Angehrn's model is based on four virtual spaces: Virtual Information Space: This space is where a firm displays information about their organisation, products or services. This space is the easiest space for a business to enter and is typically the first step taken towards entering the virtual marketplace.
The major concern are: The information that is displayed is accurate and current. The information that is displayed is only viewed by authorized users.
Customers can easily find the site and navigate through it once they have reached the site and The site is accessible without long wait times. Virtual Distribution Space: This space is used to deliver the product or services requested or purchased by the consumer. For virtual delivery to occur, the products being delivered must be digital or the service performed digitally.
On-line news services and software companies have been quick to market and deliver their products electronically.